Question 1

Can I use a DSCR loan on a property I just bought?

Accepted Answer

Yes, if it's already leased or market rents support the ratio. Lenders may use a signed lease or an appraiser's rent schedule.

Question 2

How fast does hard money actually close?

Accepted Answer

Many hard money lenders close in 5 to 10 business days. It depends on the lender and how quickly you provide property details.

Question 3

Do hard money loans check my credit score?

Accepted Answer

Most do a soft pull, but approval is driven by the asset. A lower score won't kill the deal the way it would on a conventional loan.

Question 4

What DSCR ratio do lenders in California typically want?

Accepted Answer

Most lenders want 1.0 or above. Some will go to 0.75 DSCR with a stronger down payment or credit profile.

Question 5

Can I refinance a hard money loan into a DSCR loan?

Accepted Answer

Yes — this is a common strategy. Renovate with hard money, stabilize the rent, then refi into a long-term DSCR loan.

Question 6

Which loan has lower rates in Live Oak?

Accepted Answer

DSCR loans carry significantly lower rates than hard money. Rates vary by borrower profile and market conditions.

DSCR vs Hard Money Loans in Live Oak, CA